The Hook points out that Media General’s stock has lost 98% of its value in the past three years. If it drops below $1/share for 30 days, they’re facing delisting from the NYSE. #
News and meta-news about Charlottesville, VA, since 2001.
Sideblog
Police announced this afternoon that their investigation into what was initially believed to be a fatal fire on Rugby Avenue is now a homicide investigation. #
The Virginia Supreme Court has denied George Huguely’s appeal. His second-degree murder conviction will stand, WRIC reports. #
In a carefully worded story, and not citing specific sources, WTVR reports that forensic evidence belonging to Jesse Matthew Jr., the main suspect in the disappearance of Hannah Graham, matches forensic evidence collected during the investigation of Morgan Harrington’s 2009 murder. #
In the wake of Hannah Graham’s disappearance, and the evidence that came from private security footage, city officials are revisiting the question of installing security cameras on the downtown mall. #
Both Charlottesville Registrar Sheri Iachetta and former Electoral Board member Stephanie Commander have turned themselves in to the police on
foursix and four felony counts of embezzlement, respectively. #Ten years ago, the National Institutes of Health budget doubled and schools like the University of Virginia built massive new research facilities. A decade later, those buildings remain largely underutilized. NPR visits UVA in this story on the effect of federal binge and spurge spending in the sciences. #
In 2012, Council approved a new student housing complex on West Main—now some council members are questioning whether what they were shown matches what was built. #
The Architectural Review Board has approved a bike-themed mural on West Market, below the McGuffey Art Center, although at least one member expressed concerns that it might look like the bicyclists were riding away from Charlottesville’s downtown. #
City Police Chief Tim Longo is meeting with city leaders to work on protocols regarding the use of military surplus police weapons in Charlottesville. #
A 100-year-old Colonnades resident received military honors for her service in the WWII Women’s Army Corps #
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Media General just needs to the opposite of whatever they think they should do, a la Opposite George. This company has been a slave to their stockholders, and they’re being wrung dry by ’em. If I were a bajillionaire I’d buy a controlling chunk of the stock (now that MG is so cheap), to take the company private again. Then the company can be run responsibly, by grownups.
Media General has got to invest in their newsrooms again. The damage they’ve done is akin to chopping down old-growth forests; it’ll take a while for the saplings to grow up. Newsrooms need young pups, eager just-out-of-college kids who will go to late-night meetings and work for lousy pay. But there need to be promotions and raises available for the good ones. Being a journalist needs to be a viable career. Over the years, I’ve seen the Progress become a 2- to 4-year stepping stone to various PR-related jobs, and little more. No reasonable human being would continue to work for slave wages after a few years, especially under the conditions of the ever-sparser DP newsroom.